Authors: Changjun Lee*, University College Dublin, Dieter Franz Kogler, University College Dublin
Topics: Economic Geography, Urban and Regional Planning
Keywords: technology life-cycle, knowledge management, smart specialization, smart diversification
Session Type: Paper
Start / End Time: 9:55 AM / 11:35 AM
Room: Diplomat Room, Omni, West
Presentation File: No File Uploaded
Technologies evolve like organisms and each technology has their own life-cycle. A new technology is mostly created in a way of recombining the existing technologies and grows with attaching to many different technologies. Sometimes, a technology easily sticks to other technologies and allowing to grow quickly (i.e. mobile communication technology). On the other hand, Some technologies have stayed still for a long time and suddenly attached to the hub technology, thereby being a necessary technology in the end. For economic agencies who consider embracing unrelated entries, they have to check the new entries are an up-rising phase of their life-cycles. The concept of the technology life-cycle provides a window of opportunities that can reshuffle industrial leaders. To measure the technology life-cycle, we create a knowledge potential model with regards to the knowledge stock and the speed of growth. In this way, we calculate the average knowledge potential of both incumbent and newly entered knowledge. We broaden the dimensions of the entry model from (1) how related the entry is, to (2) how the entry is expected to be a next promising technology. ‘Smart Diversification’ considering multi-dimensional entries will be a complimentary policy along with the ‘Smart Specialization’ for regional policymakers.